Podcast #168 – Marc Interviews Dennis Boyle, Owner of a SalesXeleration Franchise
Recently, I have been searching for people who purchased a franchise after the age of 50, did not dip into their retirement accounts and were successful and happy for several years. There are ways to dip into your retirement accounts without paying taxes and penalties but I personally frown upon doing that. I have friends who did that and lost their entire retirement savings.
In 2017, Dennis Boyle purchased a SalesXeleration franchise which provides Vice President of Sales tools and programs for small to medium-sized firms, allowing them to outsource their sales and marketing leadership. He basically bought a consulting system with sales support for selling that system, and he personally delivers those services to his clients.
Later on, I have one other person who bought a similar type of franchise 10 years ago that I want to bring onto the podcast.
Here is Dennis’s bio:
Dennis Boyle has over 25 years of experience with large corporations such as E.I. Dupont, Dade Behring and Siemens AG as well as startup companies such as Exalenz Bioscience and MedTest Dx. Mr. Boyle’s experience includes both sales and marketing and he has held multiple Senior Executive roles in Business Development, Corporate Accounts, Strategic Management, Corporate/Commercial Training and Development, Private Equity, and Operations. In his last role, Mr. Boyle served as President of Spectra 254.
Now on to the podcast…
Dennis has been in sales and marketing and has worked as a sales leader. He wanted to do something different but needed a kick off the ledge to get him to move. The kick came when the chief financier of the company he was running passed away, and they had to shut the business down.
Dennis was doing some consulting on the side and liked it. He looked at a lot of businesses and did a good deal of analysis. He did not want a franchise where he would need to be more inflexible and busier than he already was.
He bought a franchise from Sales Xceleration.
He has no employees but has many referral partners. This includes accounting help, outsourced CFO, and a recruiter.
The franchise fee is $30K plus a percentage of the revenue. He invested an additional $50K in getting the business set up. He was able to replace that initial investment in 6-7 months.
Dennis had put money aside over the previous 5 years to make this transition smooth. He did not dip into his retirement savings to start the business.
What he got from the franchiser:
- Cases studies
- Outbound lead generation
- Products like a outsource VP of Sales product
Typical clients include:
- Funded startup
- Small to medium business that is stuck
- Buy and sell-side transactions
Dennis has been in business for 3 years with no plans to exit.
Dennis does not miss being part of a corporate team. He now gets to build teams and then leave when they’re successful.
Dennis says you need to do your background work. The success of your business will be due to the reduction of risk and due diligence on the front end.
Get a franchise you know and verify that the franchiser is going to support you after the sale.
Make sure the franchise company focuses on new and innovative ways to keep growing the business. You want a franchise company that grows with you.
Marc invites you to connect with him on LinkedIn.com/in/mrmiller. Just include in the connection request that you listen to this podcast. You can look for Career Pivot on Facebook, LinkedIn, or @CareerPivot on Twitter. Please support the Repurpose Your Career podcast by going to Careerpivot.com/donate. Please hop over to CareerPivot.com and subscribe to get updates on this podcast and all the other happenings at Career Pivot. You can also subscribe to the podcast on iTunes, Stitcher, the Google Podcasts app, Podbean, the Overcast app, or the Spotify app and on Pandora! Please consider writing a review on Apple Podcast or on Podchaser.com.Marc Miller
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